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Thursday, December 18, 2014

Guide to Buying and Selling in the Winter

There are many pros and cons to buying (or selling) a home during the winter season. Although the winter is generally known as a "slow season" for home buying and selling, it can have many benefits on both sides.





Here are CF Funding's list of Pros and Cons for Buying and Selling during the Winter season: 

Buying Pro's

Reduced Competition means less pressure, lower prices, and less likelihood of a bidding war.
Realtors may have more time during "slow season," are more available and responsive to your needs
Sellers may have less showings during winter months, therefore they may be quicker to respond.
Tax Benefits may be available for those who close by December 31, such as mortgage interest and property taxes.
Home shopping in winter allows you to see how well the house is built for winter weather (heating system, hot water, drafts, etc.)

Buying Cons

Limited inventory means you have less houses to choose from.
You may have difficulty seeing all features of the home's exterior due to weather (snow-covered defects may be hidden) leading to an unpleasant surprise.
You may feel a lot of pressure trying to balance holiday shopping / events with home shopping and mortgage tasks. Completing your holiday shopping early can help relieve this pressure !

Selling Pro's

Less competition from other sellers
Winter buyers tend to be more motivated, with a pressing need to move quickly.
Adorning your home with Christmas decorations is an easy way to make it look warm and welcoming!
According to a Redfin survey analyzing homes listed from March 2011 - March 2013, homes listed in winter had a 9% better chance of selling and sold about a week faster. They also sold for 1.2 percent higher price than those listed in other seasons! Read more on Redfin.com

Selling Cons

Showings may interrupt holiday events and activities.
Many home shoppers avoid looking during the winter, as they want more inventory, and may want to avoid moving in the cold and snow.


If you are looking to buy or sell this season, be sure to contact CF Funding for your mortgage needs. We can refer you to a great Realtor to help you get started, and we offer free preapprovals ! Give us a call at 630-328-8900 today, or visit our website at www.cffunding.com .


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